Tempur Sealy Announces Proposed $1.6 Billion Term Loan B Facility
Tempur Sealy International (NYSE: TPX) has announced the launch of a proposed $1.6 billion senior secured Term Loan B facility. The Term Loan B will have a seven-year maturity from the closing date. The company intends to use the proceeds, along with available cash and other debt proceeds, to fund the cash consideration for the previously announced acquisition of Mattress Firm Group Inc. Tempur Sealy plans to draw on the Term Loan B concurrent with the closing of the Mattress Firm acquisition. This financial move is a significant step towards completing the proposed Mattress Firm acquisition, which was previously announced by the company.
Tempur Sealy International (NYSE: TPX) ha annunciato il lancio di un prestito senior garantito Term Loan B proposto da 1,6 miliardi di dollari. Il Term Loan B avrà una scadenza di sette anni dalla data di chiusura. L'azienda intende utilizzare i proventi, insieme a contante disponibile e altri proventi da debito, per finanziare il pagamento in contante per l'acquisizione precedentemente annunciata di Mattress Firm Group Inc. Tempur Sealy prevede di richiamare il Term Loan B in concomitanza con la chiusura dell'acquisizione di Mattress Firm. Questa mossa finanziaria rappresenta un passo significativo verso il completamento della proposta di acquisizione di Mattress Firm, già annunciata dall'azienda.
Tempur Sealy International (NYSE: TPX) ha anunciado el lanzamiento de un préstamo senior garantizado Term Loan B propuesto de 1.6 mil millones de dólares. El Term Loan B tendrá un vencimiento de siete años a partir de la fecha de cierre. La compañía tiene la intención de utilizar los ingresos, junto con efectivo disponible y otros ingresos por deuda, para financiar la contraprestación en efectivo para la adquisición anunciada anteriormente de Mattress Firm Group Inc. Tempur Sealy planea disponer del Term Loan B simultáneamente con el cierre de la adquisición de Mattress Firm. Este movimiento financiero es un paso significativo hacia la finalización de la propuesta de adquisición de Mattress Firm, que fue anunciada previamente por la empresa.
템퍼 시일리 인터내셔널(NYSE: TPX)은 16억 달러 규모의 선순위 담보 대출 Term Loan B 제안을 발표했습니다. Term Loan B의 만기는 종료일로부터 7년입니다. 이 회사는 자금의 수익과 함께 사용 가능한 현금 및 기타 채무 수익을 통해 이전에 발표된 매트리스 펌 그룹 인수에 대한 현금 대가를 자금 지원할 계획입니다. 템퍼 시일리는 매트리스 펌 인수 종료와 동시에 Term Loan B를 인출할 계획입니다. 이 재정적 결정은 회사에서 이전에 발표된 매트리스 펌 인수 제안을 완료하기 위한 중요한 단계입니다.
Tempur Sealy International (NYSE: TPX) a annoncé le lancement d'un prêt senior sécurisé Term Loan B proposé de 1,6 milliard de dollars. Le Term Loan B aura une durée de sept ans à compter de la date de clôture. L'entreprise prévoit d'utiliser les fonds, ainsi que la trésorerie disponible et d'autres produits d'emprunt, pour financer la contrepartie en espèces pour l'acquisition précédemment annoncée de Mattress Firm Group Inc. Tempur Sealy prévoit de tirer parti du Term Loan B en même temps que la clôture de l'acquisition de Mattress Firm. Ce mouvement financier représente une étape importante vers l'achèvement de l'acquisition proposée de Mattress Firm, qui avait été précédemment annoncée par l'entreprise.
Tempur Sealy International (NYSE: TPX) hat die Einführung eines vorgeschlagenen senior gesicherten Term Loan B-Darlehens in Höhe von 1,6 Milliarden Dollar bekannt gegeben. Das Term Loan B hat eine Laufzeit von sieben Jahren ab dem Abschlussdatum. Das Unternehmen beabsichtigt, die Mittel, zusammen mit verfügbaren Barmitteln und anderen Darlehensmitteln, zu verwenden, um die Barzahlung für die zuvor angekündigte Übernahme von Mattress Firm Group Inc zu finanzieren. Tempur Sealy plant, das Term Loan B gleichzeitig mit dem Abschluss der Mattress Firm-Übernahme in Anspruch zu nehmen. Dieser finanzielle Schritt stellt einen bedeutenden Fortschritt zum Abschluss der vorgeschlagenen Mattress Firm-Übernahme dar, die zuvor vom Unternehmen angekündigt wurde.
- Securing $1.6 billion in financing for the Mattress Firm acquisition
- Seven-year maturity on the Term Loan B, providing long-term financing
- Increasing debt load with the $1.6 billion Term Loan B
- Potential impact on financial leverage and interest expenses
– Expects to use proceeds to fund the proposed acquisition of Mattress Firm
– Anticipates drawing on the loan concurrent with closing the proposed acquisition
Tempur Sealy intends to use the proceeds from the Term Loan B, together with cash available and proceeds from other debt, to fund the cash consideration for the previously announced acquisition of Mattress Firm Group Inc. ("Mattress Firm"). Tempur Sealy intends to draw on the Term Loan B concurrent with the closing of the Mattress Firm acquisition.
Forward-Looking Statements
This press release contains statements that may be characterized as "forward-looking" within the meaning of the federal securities laws. Such statements might include information concerning one or more of the Company's plans, guidance, objectives, goals, strategies, and other information that is not historical information. When used in this release, the words "will," "targets," "expects," "anticipates," "plans," "proposed," "intends," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the Company's expectations regarding the outcome of the pending litigation with the FTC, the expected Mattress Firm acquisition including expectations regarding post-closing supply agreements, future performance, integration of acquired companies with our business and the ability of the Company to close the Mattress Firm acquisition on the timeline indicated or at all. Any forward-looking statements contained herein are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct.
Numerous factors, many of which are beyond the Company's control, could cause actual results to differ materially from any that may be expressed herein as forward-looking statements. These potential risks include risks associated with receipt of regulatory approvals and satisfaction of closing conditions prior to consummation of the acquisition, Mattress Firm's ongoing operations; the ability to successfully integrate Mattress Firm into Tempur Sealy's operations and realize synergies from the transaction; the possibility that the expected benefits of the acquisition are not realized when expected or at all; general economic, financial and industry conditions, particularly conditions relating to the financial performance and related credit issues present in the retail sector, as well as consumer confidence and the availability of consumer financing; the impact of the macroeconomic environment in both the
About Tempur Sealy International, Inc.
Tempur Sealy is committed to improving the sleep of more people, every night, all around the world. As a leading designer, manufacturer, distributor and retailer of bedding products worldwide, we know how crucial a good night of sleep is to overall health and wellness. Utilizing over a century of knowledge and industry-leading innovation, we deliver award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries.
Our highly recognized brands include Tempur-Pedic®, Sealy® and Stearns & Foster® and our popular non-branded offerings consist of value-focused private label and OEM products. At Tempur Sealy we understand the importance of meeting our customers wherever and however they want to shop and have developed a powerful omni-channel retail strategy. Our products allow for complementary merchandising strategies and are sold through third-party retailers, our over 750 Company-owned stores worldwide and our e-commerce channels. With the range of our offerings and variety of purchasing options, we are dedicated to continuing to turn our mission to improve the sleep of more people, every night, all around the world into a reality.
Importantly, we are committed to carrying out our global responsibility to protect the environment and the communities in which we operate. As part of that commitment, we have established the goal of achieving carbon neutrality for our global wholly owned operations by 2040.
Tempur Sealy Investor Relations Contact
Aubrey Moore
Investor Relations
Tempur Sealy International, Inc.
800-805-3635
Investor.relations@tempursealy.com
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SOURCE Tempur Sealy International, Inc.
FAQ
What is the purpose of Tempur Sealy's $1.6 billion Term Loan B facility?
When will Tempur Sealy (TPX) draw on the $1.6 billion Term Loan B?
What is the maturity period for Tempur Sealy's proposed $1.6 billion Term Loan B?
How does Tempur Sealy (TPX) plan to finance the Mattress Firm acquisition?
